I am acquiring a newly built flat in Kingston Park and my solicitor is advising me that she has to the mortgage company to reveal incentives from the developer. I am on a tight deadline to exchange contracts and I don't want to delay the conveyancing. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
We are looking to buy a flat and require a conveyancing solicitor in Kingston Park who is on the Nottingham solicitor panel. Can you recommend a local solicitor?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Nottingham . We don't recommend any particular firms conducting conveyancing in Kingston Park.
I have recentlydiscovered that Stirling Law have been shut down. They conducted my conveyancing in Kingston Park for a purchase of a leasehold apartment 10 months ago. How can I check that the property is not still registered in the name of the previous owner?
The easiest way to see if the property is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Kingston Park conveyancing specialists.
Am I right to be concerned that brokers that I am dealing with are suggesting a web based conveyancing firm as opposed to a High Street Kingston Park conveyancing company?
As with many professional services, often recommendations from relatives can be extremely useful or valuable. Nevertheless there are many players in a conveyancing matter; estate agents, mortgage brokers and lenders may recommend conveyancers to use. On occasion the conveyancers might be known to one of the organisations as experts in their field, but occasionally there is an underlying financial incentive behind the recommendation. You are free to choose your preferred conveyancer. You need to be aware that some banks specify a panel list of conveyancers you are obliged to use for the mortgage aspect of your transaction.
I am looking at a couple of flats in Kingston Park which have in the region of 50 years left on the leases. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Kingston Park. The lease is a legal document that entitles you to use the premises for a period of time. As the lease gets shorter the value of the lease decreases and it becomes more costly to extend the lease. For this reason it is often a good idea to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease as mortgage lenders may be reluctant to lend money on such properties. Lease extension can be a protracted process. We advise that you seek professional help from a conveyancer and surveyor with experience in this arena.
I invested in buying a studio flat in Kingston Park, conveyancing was carried out August 1996. Can you work out an approximate cost of a lease extension? Comparable flats in Kingston Park with over 90 years remaining are worth £186,000. The ground rent is £55 invoiced annually. The lease terminates on 21st October 2077
You have 52 years remaining on your lease we estimate the price of your lease extension to span between £29,500 and £34,000 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.
I need to find a mortgage company panel solicitor in Kingston Park. Can you assist?
It is not clear why you need a Kingston Park panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to the bank to find out which solicitors in Kingston Park are on their panel . If you do find such a firm in Kingston Park not listed please direct them to our site to list. After all the cost is only one £1 a month